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Indianapolis Neighborhood Housing Partnership

MORTGAGE ACCELERATOR

This unique program allows buyers to pay their home off faster, build wealth quicker and pay less interest over time.

LOAN DETAILS

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WHAT IS THE MORTGAGE ACCELERATOR?

Traditional mortgages generally feature a fixed interest rate over a 30-year term. With INHP’s Mortgage Accelerator, you can pay off your home in as few as 20 years if you qualify and purchase your home using an INHP home loan.

Check out the example below of a home with a purchase price of $150,000 and see how the mortgage accelerator could help you save money and pay off your home faster.

WHO CAN PARTICIPATE?

You may be eligible if you are a Marion County resident earning up to 120% of HUD's Area Median Income (AMI). Income, geographic and other eligibility restrictions apply.

  • A household earning up to 80% AMI may qualify to use the program anywhere in Marion County.
  • A household earning up to 120% AMI may qualify to use the program in any low-to-moderate income census tract in Marion County.

Rates and terms are subject to change without notice.

Talk to an INHP mortgage loan originator to see if you qualify. Some examples may include:

  • For a household of three earning a combined income of $59,050, the Mortgage Accelerator may be used anywhere in Marion County
  • For a household of two earning a combined income of $78,720, the Mortgage Accelerator may be used in any low-to-moderate income (LMI) census tract in Marion County. This also applies to a household of four earning $98,400. 
Accelerator chart 150,000
*Estimated loan terms are based on a $150,000.00 Purchase Price, $145,500.00 Loan Amount (or 3% down), 3.994% interest rate (4.213% APR), 620 credit score, $694.14 monthly principal and interest payment for 360 months.
**Estimated loan terms are based on a $150,000.00 Purchase Price, $145,500.00 Loan Amount (or 3% down), plus .5% ($727.50) discount point, 1.644% interest rate (1.902% APR), 620 credit score, $711.78 monthly principal and interest payment for 240 months.
Income and eligibility restrictions apply. Rates and availability subject to change without notice. See your INHP mortgage loan originator for more details.

READY TO BEGIN?

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GET STARTED

If you are interested in INHP’s Mortgage Accelerator program, click the button below and submit your information to get started.

GET EXPERT ADVICE

INHP's unbiased loan officers can answer your questions and help you navigate the mortgage process. Contact a loan officer to get started.

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